If you were one of these statistics, what value would you place on having access to the best available treatment to help you in beating a potentially fatal disease?
Think about how important it would be to take as much time off work as you needed to recover and not having to worry about having enough money to pay the bills.
The role of trauma insurance
Trauma insurance provides a lump sum payment in the event that you are diagnosed with, or suffer one of a range of traumatic conditions such as cancer, heart attack and stroke.
Medical advances have meant that our chances of surviving traumatic events are much better than they were in the past, however, the cost of treatment can sometimes be beyond your normal means. Without trauma cover, you may need to dip into your children's education fund or your retirement savings, or you might even have to increase your mortgage to pay for expensive treatment.
A trauma payment is not dependent on you being unfit to work (unlike income protection, where you need a doctor to certify your ongoing ill health). The diagnosis of a traumatic condition might mean that you physically could go to work, but would prefer to spend time with your family and reduce any work-related stress while you recover and consider how your future will be affected.
Trauma insurance can provide the financial support to allow this flexibility with your work arrangements.
Never say it will never happen to you..
The types of events that trauma insurance covers are often unforeseeable and the statistics speak for themselves. To make sure you don't increase these statistics, carefully compare the many variations of trauma policies available. There are significant differences in the features between policies such as the number and type of events covered, premium options and ancillary benefits payable.
If you require assistance please contact us to help you obtain the most appropriate policy for your circumstances.
Information contained in this blog is of general nature only. It does not constitute financial or taxation advice. The information does not take into account your objectives, needs and circumstances. We recommend that you always obtain professional insurance, investment and taxation advice specific to your objectives, needs and financial situation before making any investment decisions or acting on any information contained in this article or on this blog.
HKS Financial Planning as an Authorised Representative of Guardianfp Ltd trading as Guardian Financial Planning. ABN 40 003 677 334 AFSL 237641. Guardian Financial Planning is a part of the Suncorp Group.
